Debt Collectors Told They Can’t Charge You to Pay

Today, the Consumer Financial Protection Bureau (CFPB) issued an advisory opinion affirming that federal law often prohibits debt collectors from charging “pay-to-pay” fees. These charges, commonly described by debt collectors as “convenience fees,” are imposed on consumers who want to make a payment in a particular way, such as online or by phone. “Federal law … Read more

How to Hide From the Debt Collector

Writing this article is a bit of a double-edged sword. You see while I think that open communication is always the best way to deal with a debt situation, sometimes people just need to find a way to escape from the pressure just to recover their sanity. If you are having a difficult problem handling … Read more

Shouldn’t These Old Student Loans Fall Off Our Credit Report?

Question: Dear Steve, My husband has an $18,000 collection on his credit report resulting from a defaulted private student loan opened in 2009 while attending The Art Institute of Las Vegas. The statute of limitation in Nevada is 7 years, and it’s our understanding that this collection account may fall from his credit report after … Read more

Trump Skewers West Virginia Consumers by Changing Law

Senator Trump (R), who is also the Chairman of the Judiciary Committee, proposed Senate Bill 563 which was recently enacted by the legislature in West Virginia and signed into law on April 21, 2017. The new law strips West Virginia consumers of protections and appears to be a naked attempt to skewer the citizens of … Read more

Debt Collectors Still Pissing People Off

Imposter scam complaints surpassed identity theft for the first time as the second most common category of consumer complaints received by the Federal Trade Commission’s Consumer Sentinel Network in 2016, according to the agency’s new Data Book. Although debt collection complaints declined slightly between 2015 and 2016, they remained the top consumer complaint category, comprising … Read more

Debt Collection Industry Might Get Proposed CFPB Overhaul

The Consumer Financial Protection Bureau (CFPB) is proposing a number of changes to the debt collection process and industry. I am positive the same debt collection industry will fight back or try to lobby to neuter the CFPB because of these suggestions. It certainly is easier to scare and fool people into paying for debts … Read more

A Day In the Life of A Debt Collector

An Account From a Real-Life Collector I arrive at work with a long list of people to call, knowing that if all goes well, I may call 125 people today. Today, I’ll hear stories of businesses gone sour, failed marriages and terrible illnesses. I’ll hear outright lies: “The check’s in the mail,” or “The stamp … Read more

Recognize and Review a Nice Debt Collector

Complaints about debt collectors number in the ginormous every year. The volume is somewhat understandable. I mean… how many other professions do you spend nearly all of your time trying to get someone to do something they cannot or will not do? Let’s face it, getting people to pay bills they likely can no longer … Read more

The 2 Words Debt Collectors Don’t Want to Hear

While much of the debt collection world is straightforward and, quite honestly, a little boring, some people in the industry treat it like a free-for-all. “There are widespread attempts to add charges to debts that aren’t legal. Excess interest is something we’ve encountered quite frequently,” said Daniel Edelman, consumer law attorney, founder and partner at … Read more